Laura Doering, Assistant Professor of Strategic Management at the University of Toronto, pointed out some interesting results from her research in a recent online article: when borrowers have personal relationships with lenders, they are more likely to repay their loans on time, whereas those with distant relationships miss more payments.

She recommends that people who do most banking online should develop a relationship with someone at their primary FI and this relationship should consist of more than just email or texting — it should include in-person meetings. We concur with her conclusion that building and maintaining personal face-to-face relationships generates tremendous benefits on both sides.

Key Takeaway: Building personal relationships at the branch with your members is invaluable and offering appointments to your busy members is one of the best ways to facilitate these face-to-face meetings.